Certified Advisory Corp Sells 421 Shares of Truist Financial Co. (NYSE:TFC)

by · The Cerbat Gem

Certified Advisory Corp lessened its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,313 shares of the insurance provider’s stock after selling 421 shares during the quarter. Certified Advisory Corp’s holdings in Truist Financial were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter valued at $25,000. United Bank increased its stake in shares of Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after buying an additional 2,938 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after buying an additional 6,593 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after buying an additional 738 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after buying an additional 4,234 shares during the period. Institutional investors own 71.11% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC traded up $0.77 during trading on Wednesday, reaching $33.92. 817,759 shares of the company’s stock were exchanged, compared to its average volume of 11,447,408. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $53.34. The business has a 50 day moving average price of $29.68 and a 200-day moving average price of $30.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $45.24 billion, a P/E ratio of 8.47, a PEG ratio of 1.98 and a beta of 1.12.

Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.02). Truist Financial had a net margin of 17.59% and a return on equity of 10.74%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.24 EPS. Truist Financial’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Truist Financial Co. will post 3.76 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a $0.52 dividend. This represents a dividend yield of 7.4%. The ex-dividend date was Thursday, November 9th. Truist Financial’s payout ratio is 52.39%.

Insider Activity

In other news, CEO William H. Rogers, Jr. bought 10,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were bought at an average price of $28.05 per share, with a total value of $280,500.00. Following the completion of the transaction, the chief executive officer now owns 412,924 shares of the company’s stock, valued at $11,582,518.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on TFC. StockNews.com began coverage on Truist Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley lowered their target price on Truist Financial from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday. HSBC began coverage on Truist Financial in a research note on Thursday, September 7th. They set a “hold” rating and a $29.00 price objective for the company. Evercore ISI boosted their target price on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Monday, November 20th. Finally, Raymond James decreased their target price on Truist Financial from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 5th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.41.

Check Out Our Latest Stock Report on Truist Financial

About Truist Financial

(Free Report)

Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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